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Thu, 02 Feb 2017 17:21:39 +0000hourly1http://wordpress.com/Comment on The Case for a Nationalised Bank by Hank Paulson’s On the Brink: the Anatomy of a Bailout, American vs. British Versionhttps://symmetrybreaks.wordpress.com/2012/07/10/the-case-for-a-nationalised-bank/#comment-299
Thu, 02 Feb 2017 17:21:39 +0000http://symmetrybreaks.wordpress.com/?p=259#comment-299[…] https://symmetrybreaks.wordpress.com/2012/07/10/the-case-for-a-nationalised-bank/ […]
]]>Comment on The Case for a Nationalised Bank by calhttps://symmetrybreaks.wordpress.com/2012/07/10/the-case-for-a-nationalised-bank/#comment-229
Fri, 24 Oct 2014 09:13:02 +0000http://symmetrybreaks.wordpress.com/?p=259#comment-229gay fam
]]>Comment on Criminal Fraud is Routine in the Biggest Banks: Time to Prosecute the Bankers by Criminal Fraud is Routine in the Biggest Banks: Time to Prosecute the Bankers | Symmetry Breaks | sexy1971's Bloghttps://symmetrybreaks.wordpress.com/2012/06/28/criminal-fraud-is-routine-in-the-biggest-banks-time-to-prosecute-the-bankers/#comment-227
Tue, 14 Oct 2014 01:24:32 +0000http://symmetrybreaks.wordpress.com/?p=227#comment-227[…] https://symmetrybreaks.wordpress.com/2012/06/28/criminal-fraud-is-routine-in-the-biggest-banks-time-t&#8230; […]
]]>Comment on The Case for a Nationalised Bank by Brendan Caffreyhttps://symmetrybreaks.wordpress.com/2012/07/10/the-case-for-a-nationalised-bank/#comment-134
Sun, 19 Jan 2014 11:19:43 +0000http://symmetrybreaks.wordpress.com/?p=259#comment-134How to nationalise, and not nationalise, the banks.

Nationalising can take many forms. But the obvious one is to install civil servants on to boards of Directors. This mild form of nationalisation has not been taken by recent Labour Party policy. Instead the proposal is to ask the Competition and Markets Authority to investigate the possibility of a form of cartel between the big 5 banks.

By removing this technical task from the Labour Party, there will appear to be an objective set of recommendations that have apolitical legitimacy. The next step would be for the above Authority to implement these recommendations on the banks. This leaves the banks as private companies maximising their profits for their shareholders. This is how not to nationalise
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In the current political climate, with an election to win in 2015, there is a need for some creative thinking about nationalisation, and it’s implementation. If the Labour Party retains some distance from actual implementation this may be wise in terms of getting votes. Also, it avoids the traditional fear that the Party is not seen as very efficient in managing the economy.

However, what the Party does after winning an election in using it’s new authority is crucial. Depending on the technical recommendations, it could implement, some, none, or even add new controls. This may yet not be seen as nationalisation. But it is on the way!

The detail of which controls to adopt is important. But more important is to have at least some controls that have a good chance of working in the short term. This begins to deal with the traditional scepticism about Labour managing the economy. Then more radical controls can be attempted. For example, taking a share of banks’ profits annually would produce capital for a government controlled bank. With this annual income the government could do various popular things; reduce income tax for the low paid, give money to local authorities to build new houses etc.. Also the new bank would be seen as increasing competition.

]]>Comment on Austerity economics is now completely discredited. It’s time for a Keynesian alternative. by Sonathttps://symmetrybreaks.wordpress.com/2012/06/18/austerity-economics-is-now-completely-discredited-its-time-for-a-keynesian-alternative/#comment-121
Thu, 06 Jun 2013 02:29:49 +0000http://symmetrybreaks.wordpress.com/?p=32#comment-121I didn’t read your article in full, but right at the beginning you defend Keyne’s idea that when people decide to spend less, the economy enters in a vicious circle of recession.

This idea is wrong because when people decide not to spend, they don’t hoard their money. They save it in the bank, where it will be used to invest back in the economy.

The fallacy should be apparent because one corollary of Keyne’s thinking is that saving is a bad thing. If you consider the extreme situation where saving is zero, you realise there’s no money for investment, and thus no economic growth. With an ever expanding population, zero growth means continuous impoverishment.

Saving = investment. Keynes is wrong.

]]>Comment on Austerity economics is now completely discredited. It’s time for a Keynesian alternative. by best domain and hosting ukhttps://symmetrybreaks.wordpress.com/2012/06/18/austerity-economics-is-now-completely-discredited-its-time-for-a-keynesian-alternative/#comment-117
Tue, 07 May 2013 11:28:03 +0000http://symmetrybreaks.wordpress.com/?p=32#comment-117Cool blog! Is your theme custom made or did you download it from somewhere?
A design like yours with a few simple tweeks would really make my blog shine.
Please let me know where you got your theme.
Cheers
]]>Comment on The Case for a Nationalised Bank by Case Study on Nationalisation Bank | CaseStudy.co.inhttps://symmetrybreaks.wordpress.com/2012/07/10/the-case-for-a-nationalised-bank/#comment-109
Fri, 15 Feb 2013 10:40:43 +0000http://symmetrybreaks.wordpress.com/?p=259#comment-109[…] The financial crisis, a huge number of banks have been nationalised. The UK government took a 100% stake in Northern Rock, 83% in RBS and 41% in Lloyds. The governments of the Netherlands, Luxembourg and Belgium forced Fortis into a “shotgun nationalisation“, whilst France, Belgium and Luxembourg also part-nationalised Dexia. Iceland’s largest banks, Landsbanki, Glitnir, Kaupthing Bank and Straumur Investment Bank were all nationalised… Click here to read more on Nationalisation Bank […]
]]>Comment on Tax Havens are threatening our Democracy by Bobby Darinhttps://symmetrybreaks.wordpress.com/2012/06/24/tax-haves-is-threatening-our-democracy/#comment-107
Sat, 19 Jan 2013 11:34:31 +0000http://symmetrybreaks.wordpress.com/?p=144#comment-107Good post to for understanding finance in guernsey, but what’s more important is that we should understand the different taxation slabs before going ahead.
]]>Comment on Time to Renationalise the Railways by On the road again | takethelowroadhttps://symmetrybreaks.wordpress.com/2012/07/18/time-to-renationalise-the-railways/#comment-104
Thu, 30 Aug 2012 19:45:27 +0000http://symmetrybreaks.wordpress.com/?p=290#comment-104[…] no surprise that a recent report into British railways concluded that taxpayers are “manifestly not receiving” a “fair deal”. Indeed pretty much every report into privatisations, PFIs, PPP etc conclude that they are a rip […]
]]>Comment on The Case for a Nationalised Bank by Britain Faces a Lost Decade, Deeper than Japan’s « Symmetry Breakshttps://symmetrybreaks.wordpress.com/2012/07/10/the-case-for-a-nationalised-bank/#comment-72
Fri, 20 Jul 2012 21:29:43 +0000http://symmetrybreaks.wordpress.com/?p=259#comment-72[…] pointed out the similarities between Britain’s crisis and Japan’s in a previous article. In Japan, banks were left unreformed, and money pumped into them fed the so-called […]
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